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Dec 8, 2012
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the real concern is shifting or will shift from the fiscal cliff to the debt limit. it's not clear that the republicans will agree to including a debt limit increase in that kind of package and if they don't, we may get past december 31st only to find ourselves with a big problem in february or march. >> the obama administration has been clear they will not sign anything. even to get past december 31st. so do you think they can hold firm on that if republicans offer them a package that doesn't include the debt ceiling? >> this is where i think the tension is now arising, which is even if you have some agreement over the tax rates which will jam the republicans a bit, can you jam them on the debt limit also, the concern will be an administration overstepping or overream reaching and trying to jam in the kinds being discussed now. i'm all in favor of getting rid of the debt limit. it makes no sense from a technical perspective. but it's probably a bridge too far to attempt that right now. the question really will become without any more significant entitlement reform a
the real concern is shifting or will shift from the fiscal cliff to the debt limit. it's not clear that the republicans will agree to including a debt limit increase in that kind of package and if they don't, we may get past december 31st only to find ourselves with a big problem in february or march. >> the obama administration has been clear they will not sign anything. even to get past december 31st. so do you think they can hold firm on that if republicans offer them a package that...
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Dec 9, 2012
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if republicans do not agree, is the administration prepared to go over the fiscal cliff? >> absolutely. >> there's no agreement that doesn't involve the rates going up on the top wealthy 2%. >> republicans clinging to what little leverage they have to maximize cuts zeroed in on the debt ceiling hoping for a repeat of the 2011 showdown where house republicans were able to extract $2 trillion in cuts. $1 trillion cut from domestic programs in ten years and $1.2 trillion in cuts through a sequester. wednesday, president obama seemed to set another red line, a business round table who warned against the repeat of last year's debacle. >> i want to send a clear message. we are not going to play the game next year. if congress suggests they are going to tie negotiations to debt ceiling votes and take us to the brink of default, once again, as part of a budget negotiation, which by the way, we have never done in our history until we did it last year, i will not play that game. because we have to break that habit before it starts. >> so, "the washington post" made a point friday s
if republicans do not agree, is the administration prepared to go over the fiscal cliff? >> absolutely. >> there's no agreement that doesn't involve the rates going up on the top wealthy 2%. >> republicans clinging to what little leverage they have to maximize cuts zeroed in on the debt ceiling hoping for a repeat of the 2011 showdown where house republicans were able to extract $2 trillion in cuts. $1 trillion cut from domestic programs in ten years and $1.2 trillion in cuts...
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Dec 12, 2012
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they don't think the fiscal cliff is actually the marker of that. they think the debt ceiling is. that's made simply the ability to come to whatever deal they are going to eventually come to in the next couple of weeks as opposed to the next two or three months, a lot weaker. >> there are plenty of republicans concerned, particularly the economist side that these negotiations have huge ramifications for the american economy, as well, and global ramifications. the markets will respond badly if we go over the fiscal cliff. foreign investors will respond badly if america goes over the fiscal cliff at the end of this year. there's a sense, i'm hearing, increasing pessimism among republicans that say we can't afford to have these kinds of talks, even the stalling process doesn't look good for the country. >> there's other incentives that are bringing both republicans, especially the white house, to the table with respect to the fiscal cliff. we did reporting on this. >> your bosom buddy. >> yeah, but there's stimulus the white house wants as a result of the fiscal cliff deal. they don'
they don't think the fiscal cliff is actually the marker of that. they think the debt ceiling is. that's made simply the ability to come to whatever deal they are going to eventually come to in the next couple of weeks as opposed to the next two or three months, a lot weaker. >> there are plenty of republicans concerned, particularly the economist side that these negotiations have huge ramifications for the american economy, as well, and global ramifications. the markets will respond...
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Dec 7, 2012
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>> on the fiscal cliff or the debt ceiling? >> on the debt ceiling. >> i was very interested by your reporting. that you took a really strong position there. i do think the white house has been transformed. both by the experience with the debt ceiling and with the election. i think if they want to stand their ground, i think they can actually do it. i think that that is, in fact, possible. can they? you know, we'll see. they seem a lot tougher now than they were last time around. don't you think? >> they sound very tough now. chrystia freeland of thomson, and author of "the plutocrats." >>> i promised you, red lobster, olive garden, timely for both, and i will deliver. that is ahead. [ male announcer ] take dayquil... [ ding! ] ...and spend time on the slopes. take alka-seltzer plus cold & cough... [ buzz! ] ...and spend time on the chair. for non-drowsy 6-symptom cold & flu relief. take dayquil. use nyquil d... [ ding! ] ...and get longer nighttime cough relief. use alka-seltzer plus night cold & flu... [ coughs ] [ buzz! ] [
>> on the fiscal cliff or the debt ceiling? >> on the debt ceiling. >> i was very interested by your reporting. that you took a really strong position there. i do think the white house has been transformed. both by the experience with the debt ceiling and with the election. i think if they want to stand their ground, i think they can actually do it. i think that that is, in fact, possible. can they? you know, we'll see. they seem a lot tougher now than they were last time...
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Dec 7, 2012
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host: if this is not addressed in the fiscal cliff debate, will it come up in the debt ceiling debate? guest: all of this depends on how the fiscal cliff sorts itself out. yesterday, you have senators say we want on income benefits extended. if the fiscal cliff debate is only limited to tax rates and deficit reduction, and not the debt ceiling, this will come up again. president obama once the debt ceiling to be part of this agreement. the reason why is simple, because that is where republicans have leverage in february. he needs republicans to extend the debt ceiling for the government to function with all going into default. republicans know this, and in theory they could separate the two to maximize their leverage. host: time for a couple more calls in this segment of the "washington journal," we will continue the unemployment insurance discussion in the following segment. laura is in louisville, kentucky, on the independent line. caller: good morning. what bothers me is when people say they actually can not find work and they have been on unemployment for 20 months, whatever they
host: if this is not addressed in the fiscal cliff debate, will it come up in the debt ceiling debate? guest: all of this depends on how the fiscal cliff sorts itself out. yesterday, you have senators say we want on income benefits extended. if the fiscal cliff debate is only limited to tax rates and deficit reduction, and not the debt ceiling, this will come up again. president obama once the debt ceiling to be part of this agreement. the reason why is simple, because that is where republicans...
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Dec 8, 2012
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everybody is playing chicken over the debt, the fiscal cliff is nothing compared to what's going to happen if we don't defuse the debt bomb. >> host: and you write in "the debt bomb" our entire the dashed our target depends on people buying our debt. when that stops, the party is over. what would you like to see done with the so-called fiscal cliff? should we let it occur? she would let the sequestration happen? >> guest: no. looked, sequestration is a career politician's answer to not be responsible about what happens. if you could everything across the board it's not your fault that the good program got cut. and it's not your fault that the good, bad program got cut. what it means is washington runs around all the time can't figure out how to not make a decision so won't affect them. that's what sequestration is all about. it is crazy to cut could programs the same as bad programs. one o of the customized that he said it's come like your wife told you to go out and we do flower garden, and you take a lot more and cut everything. well, that's what it is. what it tells you is how incompete
everybody is playing chicken over the debt, the fiscal cliff is nothing compared to what's going to happen if we don't defuse the debt bomb. >> host: and you write in "the debt bomb" our entire the dashed our target depends on people buying our debt. when that stops, the party is over. what would you like to see done with the so-called fiscal cliff? should we let it occur? she would let the sequestration happen? >> guest: no. looked, sequestration is a career politician's...
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Dec 6, 2012
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host: the president yesterday spoke about the debt ceiling and is tied to the fiscal cliff negotiations. [video clip] >> i have to tell you that is a bad strategy for america, a bad strategy for our businesses, and it is not a game that i will play. most of you were involved in discussions and watched the catastrophe that happened in august of 2011. everybody here is concerned about uncertainty. there is no uncertainty like the prospect that the largest economy that holds the world's reserve currency potentially defaults on its debts, that we give out the basic notion that the united states stands behind its obligations. we cannot afford -- host: whil"the wall street journal." guest: the president does not want to negotiate with the republicans on the debt ceiling. that is like giving a son or daughter a credit card to do with it as they want freely. i think the president has to admit that both sides have tried to break measures and legislations to the table that would reduce the debt ceiling. the president -- look at how the deficit has quadrupled since he has been in the white house a
host: the president yesterday spoke about the debt ceiling and is tied to the fiscal cliff negotiations. [video clip] >> i have to tell you that is a bad strategy for america, a bad strategy for our businesses, and it is not a game that i will play. most of you were involved in discussions and watched the catastrophe that happened in august of 2011. everybody here is concerned about uncertainty. there is no uncertainty like the prospect that the largest economy that holds the world's...
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Dec 5, 2012
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my second point is that even if we avoid short-term debt crisis, the so-called fiscal cliff, and i hope that we will, the debt in the years to come will increasingly dominate the budget. it will pressure defense and a in a serious way. so without addressing the long-term tenure solution as the animal outline, the defense budget is going to be under increasing pressure. that is inevitable and the interest rates have not even started going up, which is also inevitable at some point. the third one a month make is that the problems within the internal defense budget and the dynamics of this budget also make the problem more difficult and more complicated. it also requires a longer term to address some of these calls. first of all, the rising health care costs, and retirement costs and fuel inefficiency. each of those has their own complexities, but all are important. so the budget is going to have to be addressed, even if the topline is the one that is a rational topline. in other words, we have entitlements within the defense budget now which are comparable to the entitlements and all the
my second point is that even if we avoid short-term debt crisis, the so-called fiscal cliff, and i hope that we will, the debt in the years to come will increasingly dominate the budget. it will pressure defense and a in a serious way. so without addressing the long-term tenure solution as the animal outline, the defense budget is going to be under increasing pressure. that is inevitable and the interest rates have not even started going up, which is also inevitable at some point. the third one...
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Dec 13, 2012
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>> once we get over the fiscal cliff we will have the discussion on the debt ceiling again in january. >> story. >> so we're not calling to get away from somewhat of a doomsday scenario for quite some time, which would allow his position. but i do think it is important, because the priorities that glenn outlined are not partisan. people don't have this agreement as to whether the federal provincial and everett bollin immigration. we may disagree on where we want to go on that. federal government having a role in infrastructure. there are larger conversations out there wycherley to divide the partisan terms of what is government's role and what is not. we all accept these are government goals. the debate as to which side you take. i think what's he has talked about is how do you get there. the bottom line is the u.s. congress and this white house are very disjointed, because the american public is very disjointed. when the american public -- this is a town that is responsive to what their voters tell them. people don't come here and say i will disagree totally with what my constituency
>> once we get over the fiscal cliff we will have the discussion on the debt ceiling again in january. >> story. >> so we're not calling to get away from somewhat of a doomsday scenario for quite some time, which would allow his position. but i do think it is important, because the priorities that glenn outlined are not partisan. people don't have this agreement as to whether the federal provincial and everett bollin immigration. we may disagree on where we want to go on that....
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Dec 7, 2012
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they told me the idea is while the president can permit the economy to fall over the fiscal cliff, or curb, whatever you want to call it, he can't allow us to default on our debt. that would, like, destroy the economy. that gives republicans a stronger hand or so they think. but really, think about that. here's how it would go. later this month, republicans would, by voting present, which everyone would think was a bit weird, permit the bush tax cuts to expire for income over $250,000. that would let president obama pocket $1 trillion in tax revenue and secure a win on his key priority in the talks. but they would do nothing else. at the end of the year, we would still go over the fiscal cliff. remember, the bush tax cuts are one of the at least stimulative policies in the negotiations. according to the economic policy institute, extending the middle class tax cuts would wipe out only about 11% of the austerity's economic impact. 11%. but all that other stuff, the payroll tax cut, the unemployment insurance, the sequester, all that, that would still be expiring. so come early next yea
they told me the idea is while the president can permit the economy to fall over the fiscal cliff, or curb, whatever you want to call it, he can't allow us to default on our debt. that would, like, destroy the economy. that gives republicans a stronger hand or so they think. but really, think about that. here's how it would go. later this month, republicans would, by voting present, which everyone would think was a bit weird, permit the bush tax cuts to expire for income over $250,000. that...
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Dec 13, 2012
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cliff, namely try and actually put us on the path to managing down the deficit and debt and as the gentleman knows, we are trying in terms of negotiations -- negotiating with the white house and the speaker has been very earnest in his desire to want to address the spending problem, not just the revenue problem, and the gentleman's suggestion would not go to that. and i would say to the gentleman, his proposal would leave the issue of increased taxes on small businesses making over $200,000 a year and if the concern is to try and focus on generating more jobs and helping heal the economy, i'd ask the gentleman in return what does -- what is his suggestion about helping though businesses because as we know the preponderance of the jobs created come from those small piss, $200,000 and up. i yield back. mr. hoyer: i thank the gentleman for his comments. we have this discussion on a regular basis, i'm sure everybody in america looks forward to this discussion. when the gentleman talks about small businesses, he is essentially talk about -- talking about 3% of the small businesses in america beca
cliff, namely try and actually put us on the path to managing down the deficit and debt and as the gentleman knows, we are trying in terms of negotiations -- negotiating with the white house and the speaker has been very earnest in his desire to want to address the spending problem, not just the revenue problem, and the gentleman's suggestion would not go to that. and i would say to the gentleman, his proposal would leave the issue of increased taxes on small businesses making over $200,000 a...
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Dec 12, 2012
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the president is address the fiscal cliff, we're dealing with the debt and deficit. this is not about getting through this next month, this is about trying to solve the issues that we face as a nation today and that is the debt and deficit that we face. the president is very fond of talk about the math. let me give you a few things dealing with the math. 2012 will be the third highest revenue receipt into the united states government ever in the history of our nation. the third highest revenue ever received in the hithsroif the united states is coming in in 2012. in this down economy, as paychecks are smaller, federal revenue continues to increase. the president is very focused on trying to get the clinton tax rates but he ignores the clinton level of spending. what we've got to address is a trillion dollar deficit here. if wrp back at the clinton level of spending this would solve the issue that we're dealing with today. so we've got to find a way to address the real driver and real issue that we're facing, that is the spending. until we address that, it's not going
the president is address the fiscal cliff, we're dealing with the debt and deficit. this is not about getting through this next month, this is about trying to solve the issues that we face as a nation today and that is the debt and deficit that we face. the president is very fond of talk about the math. let me give you a few things dealing with the math. 2012 will be the third highest revenue receipt into the united states government ever in the history of our nation. the third highest revenue...
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Dec 5, 2012
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during the course of that, we need to make sure we a avoid the fiscal cliff and we shouldn't be having this debt ceiling every nine months that does not contribute to market stability. if we're going to have a $4 trillion deal we need certainty in the taxes and the entitlement spending side. both of those things need to happen. markets need to be able to look at it and say it is for certain. when we do look at federal health spending i would like to see a short-term and long-term approach here. on the short-term side of this, there is only one way to get this thing done, it seems to me by december 31 and have any kind of market credibility to it. it needs to be hard and fast so people can look at it, i can calculate it and be sure it is there. if it is raising the eligibility age. i think all of those should be discussed. this is not just a decade issue, this is a second and third decade issue. all of those things ought to be implied. echoing comments that a number of folks have made, there needs to a long-term approach here. just like we were talking about on taxes we need to do somet
during the course of that, we need to make sure we a avoid the fiscal cliff and we shouldn't be having this debt ceiling every nine months that does not contribute to market stability. if we're going to have a $4 trillion deal we need certainty in the taxes and the entitlement spending side. both of those things need to happen. markets need to be able to look at it and say it is for certain. when we do look at federal health spending i would like to see a short-term and long-term approach here....
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let me, let me say that thetive of not producing a solution to this debt crisis, the so-called fiscal cliff, could bring about the sequestration that is the slicing of the military right in half. that would be a disaster in many respects. across the world people would see we can't handle our own country well, our own defense well. people across the world would see us failing to fulfill the duty of the constitution to provide for the national defense that's up to congress to do that. but after we get this done -- and let's hope that it does come to pass -- a second challenge is out there, and that's the challenge to glue together a strategy that will keep this country safe and secure. back in the 1947 era george key man sent what's known as the long telegram from moscow to the white house spelling out the rise of the soviet union and its intentions. president truman, my fellow missourian, and his staff glued together the containment strategy which stayed in effect through admiral -- excuse me, through general eisenhower's presidency and later until, as you know, the wall in berlin came
let me, let me say that thetive of not producing a solution to this debt crisis, the so-called fiscal cliff, could bring about the sequestration that is the slicing of the military right in half. that would be a disaster in many respects. across the world people would see we can't handle our own country well, our own defense well. people across the world would see us failing to fulfill the duty of the constitution to provide for the national defense that's up to congress to do that. but after...
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Dec 7, 2012
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even as we are wrestling with trying to debt a handle on the fiscal cliff, we cannot lose sight of their urgent priority of making sure we have job growth -- job creation, to say the least. many of the components you have outlined -- that both of you have -- it comprised of the broad description of the fiscal cliff whether it is the expiring tax cut provisions, the expiring tax cut extensions, and spending cuts as well. if you consider more, which of those would you consider having the biggest bang for the buck in terms of economic impact of those that we are discussing here today? >> it is a given that we will extend the current tax rates for taxpayers that make less than $250,000 on an annual basis. that is absolutely necessary. when you consider the other things that are happening -- in terms of the bang for the buck, the emergency unemployment insurance program is very effective. it is small in the grand scheme of things. cbo is estimating it would costs per calendar year about $33 million. but the economic opportunity for job growth compared to the unemployment rate would be measura
even as we are wrestling with trying to debt a handle on the fiscal cliff, we cannot lose sight of their urgent priority of making sure we have job growth -- job creation, to say the least. many of the components you have outlined -- that both of you have -- it comprised of the broad description of the fiscal cliff whether it is the expiring tax cut provisions, the expiring tax cut extensions, and spending cuts as well. if you consider more, which of those would you consider having the biggest...
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Dec 11, 2012
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related to the fiscal cliff, the last eight or nine meetings. and business leaders representing 32 states we have brought to the white house. the message they're getting is pretty consistent with simpson- bowles and with fixing the debt and with how the business relationship is characterized in the media. they're anxious for debt deal, because they want certainty as quickly as possible. they tend to use simpson-bowles as their frame of reference. the question is not whether it's the democratic or republican plan is better, is which plan is closer to simpson-bowles. host: here is the hill newspaper -- guest: well, [indiscernible] what we do is bring business leaders from around the country to brief the president and his economic team, on health care reform to immigration reform, the fiscal cliff, intellectual property protection. and the business leaders are speaking for themselves. generally speaking, business leaders are centrists, data driven, results oriented. they are looking for compromise in washington. is it a pro-obama group or republica
related to the fiscal cliff, the last eight or nine meetings. and business leaders representing 32 states we have brought to the white house. the message they're getting is pretty consistent with simpson- bowles and with fixing the debt and with how the business relationship is characterized in the media. they're anxious for debt deal, because they want certainty as quickly as possible. they tend to use simpson-bowles as their frame of reference. the question is not whether it's the democratic...
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Dec 12, 2012
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arrangement for us until we get through this fiscal cliff issue. again, what i'd rather see happen is that we just deal with that all right now and we start off next year with people know that's done. since it looks like every day that goes by it looks like it's increasingly unlikely that that's going to happen, i wanted to offer a proposal today for the leadership of the senate and that is since it looks like the debt ceiling could be coming up early next year, as a matter of fact, it may coincide very closely with the continuing resolution so there's two, if you will, moments in time where we've got to make big decisions here for our country, i would offer that we go ahead and begin the process of the debt ceiling and i would make the proposal that the first roughly $1 trillion, $900 billion to $1 trillion in raises in the debt ceiling are accompanied by $900 billion to $1 trillion in cuts in entitlement spending to actually cause those programs to be solvent. i think all of us want to make sure that seniors in this country are protected, we know
arrangement for us until we get through this fiscal cliff issue. again, what i'd rather see happen is that we just deal with that all right now and we start off next year with people know that's done. since it looks like every day that goes by it looks like it's increasingly unlikely that that's going to happen, i wanted to offer a proposal today for the leadership of the senate and that is since it looks like the debt ceiling could be coming up early next year, as a matter of fact, it may...
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Dec 10, 2012
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avoiding the fiscal cliff is no excuse for republicans to replace this artificial crisis with another one. congress should pass the proposal to end periodic standoffs over the debt ceiling. this plan would give president obama the authority to avoid default over the nation's bills. democrats are ready to vote any time but first senator mcconnell needs to stop filibustering his own legislation rhode island now speaker boehner and minority leader mcconnell are the only thing standing between congress and compromise. it's time for them to prove to american families that they're more interested in protecting the medal class than pleasing the tea party. mr. president, on another subject, i rise to honor our colleague, the senior senator from nebraska, ben nelson, upon his retirement from the united states senate, to become effective after the first of the year. for 12 years senator nelson has been a valued member of the democratic caucus and an exemplary senator for nebraska and the country. but his life in public service leads back to his youth. he spent his college days serving his nebra
avoiding the fiscal cliff is no excuse for republicans to replace this artificial crisis with another one. congress should pass the proposal to end periodic standoffs over the debt ceiling. this plan would give president obama the authority to avoid default over the nation's bills. democrats are ready to vote any time but first senator mcconnell needs to stop filibustering his own legislation rhode island now speaker boehner and minority leader mcconnell are the only thing standing between...
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if you think the fiscal cliff has the potential to have a negative economic impact, and it does to a -- especially if you go far into january and beyond. but fooling around with the debt ceiling is cat troughic. i don't think our republican colleagues are going to gain any sympathy from the american public when they are threatening to tank the u.s. economy. i know all of you understand, but i think it is important that people following these discussions recognize that lifting the debt ceiling is not to borrow money to pay for new things. it is to pay for bills that the united states has already incurred, that congress has already voted on. it would be like getting up one morning and saying we're not going pay our mortgage or it is like if we all spend on the credit card, buying things we like, then we're not going pay the bill. so for the united states of america to wake up one morning and say we're not paying our bills would be economic catastropheic. >> does that rule skip operative or can you see a way that they can do the heavy lifting and you can get enough votes to get it over?
if you think the fiscal cliff has the potential to have a negative economic impact, and it does to a -- especially if you go far into january and beyond. but fooling around with the debt ceiling is cat troughic. i don't think our republican colleagues are going to gain any sympathy from the american public when they are threatening to tank the u.s. economy. i know all of you understand, but i think it is important that people following these discussions recognize that lifting the debt ceiling...
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cliff only to extract more revenue for the federal government. by the way, not revenue necessarily used to pay down the debt or to sustain and preserve our programs like medicare and medicaid, but yet to expand spending even further. well, i hope only -- i hope that cooler heads will prevail. one final thought. when you -- when i talk to people all across the country who tell me they're watching us here in washington to see what we're going to do, it is the uncertainty that's freezing them into place and preventing them from starting new businesses, growing existing businesses, or making investments that will help grow the economy. the saddest part about this is how manufactured this crisis really is. all of these decisions were kicked off until after the election, into this so-called lame-duck session, and this crisis, this fiscal cliff cris crisis, was manufactured, as i say. we should have tackled these challenges a long time ago to give american families and american businesses the certainty they need in order to plan for the future. instead,
cliff only to extract more revenue for the federal government. by the way, not revenue necessarily used to pay down the debt or to sustain and preserve our programs like medicare and medicaid, but yet to expand spending even further. well, i hope only -- i hope that cooler heads will prevail. one final thought. when you -- when i talk to people all across the country who tell me they're watching us here in washington to see what we're going to do, it is the uncertainty that's freezing them into...
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and they are just going to let the fiscal cliff thing take care of itself. i learned this recently, remember the sequester. >> yes. >> what a panic that was? >> yes. >> they can cancel that. they can say, we are not going to do t we are going to cancel it. just cancelling the budget cuts saying, never mind. >> that's it you know what? i haven't thought about it that way but sincition a creation of their own making? right? the creature of their own making, they can undo what they did. >> they can undo it. >> because it came about they said, so if our super committee doesn't reach an agreement, these draconian budget cuts are going to take place. now, they could say, we changed our mind. >> never mind. yeah, never mind or they could delay it three years or a year or whatever. but they don't have to. >> that's why we are not hearing about it t they will just, we will never mind that. >> bill: well, i think you may be right. i think they know they have lost the battle on the tax cuts. even if they don't get a 39.6, they will agree to 37 or 37 natural or whatever
and they are just going to let the fiscal cliff thing take care of itself. i learned this recently, remember the sequester. >> yes. >> what a panic that was? >> yes. >> they can cancel that. they can say, we are not going to do t we are going to cancel it. just cancelling the budget cuts saying, never mind. >> that's it you know what? i haven't thought about it that way but sincition a creation of their own making? right? the creature of their own making, they can...
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let's get away from this fiscal cliff. con garagelations to the president for following through with young americans to make sure they get money to pay for college. the speaker pro tempore: for what purpose does the gentlelady from illinois seek recognition? >> i ask unanimous consent to address the house for one minute. the speaker pro tempore: without objection, so ordered. mrs. schmidt: i rise to highlight -- ms. schakowsky: the production tax credit is essential for energy independence, the environment and public health and it is critical for job creation and our economy. the production tax credit has helped create good paying jobs across the country including 7,000 in my home state of illinois because of uncertainty, the wind industry is hurting and job losses have already begun. the failure to extend the production tax credit will result in the lots of 37,000 of the 78,000 american wind jobs. those are not just nournls a sheet of paper. they represent people and families and communities. this is not a partisan issue.
let's get away from this fiscal cliff. con garagelations to the president for following through with young americans to make sure they get money to pay for college. the speaker pro tempore: for what purpose does the gentlelady from illinois seek recognition? >> i ask unanimous consent to address the house for one minute. the speaker pro tempore: without objection, so ordered. mrs. schmidt: i rise to highlight -- ms. schakowsky: the production tax credit is essential for energy...
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that's not what the american people thought the fiscal cliff was about. they thought it was about trying to have something to force us, force our congress and our president to do something about the deficit and debt situation. everything they're talking about will make it worse. >> what's the answer? will we have the deal? >> the real answer is to have comprehensive. look at this. i as a republican, i would take raising the rates on the two top brackets if, in return, we had tax reform laid out over a period of months, if we had entitlement reform. we have to control defense spending. we have to control other no non- -- other discretionary non-defense spending. i think if you have the whole package, i would hold my nose despite the fact raising those two tax brackets is bad economics, bad for jobs, will hurt the economy, i would hold my nose to get the other done. what i wouldn't do is vote for that and do nothing else. >> agree completely. what i've been saying here. steve rattner. >> i agree completely. to get a big deal we all have to hold our nose a l
that's not what the american people thought the fiscal cliff was about. they thought it was about trying to have something to force us, force our congress and our president to do something about the deficit and debt situation. everything they're talking about will make it worse. >> what's the answer? will we have the deal? >> the real answer is to have comprehensive. look at this. i as a republican, i would take raising the rates on the two top brackets if, in return, we had tax...